BioPorto – En lille historik, der ikke er for sarte sjæle !

To ensure quick direct access for The NGAL Test™ to most of the world market, BioPorto concluded a distribution agreement with Dako A/S.From now on The NGAL Test™ will be distributed by Dako and BioPorto’s own distributors to more than 80 countries.

·Moreover, BioPorto continued its collaboration discussions with multinational diagnostics companies that are interested in marketing the renal injury marker for their own analyzers.Several of these companies have received The NGAL Test™ for internal validation and adaptation to their respective analyzers.

·A private placement was carried out by issuing convertible bonds for almost DKK 14 million.The bonds are quoted in the official list of NASDAQ OMX Copenhagen.The private placement generated proceeds of DKK 13.1 million for BioPorto.

At present, the assay is in its introductory phase and is primarily being provided for validation and trial set-ups, which means the group is not expecting a high level of sales in the first half of 2011.Concurrent to becoming familiar with market developments, the company will report on its activities and sales.BioPorto expects the sales of the rest of its product portfolio to continue to grow.

·In the future, the group expects its financing to be secured through proceeds obtained by issuing the convertible bonds in 2010 and by increasing sales earnings, primarily from sales of The NGAL Test™.The group’s long-term financing structure is integrally related to sales of The NGAL Test™.

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Q1 2011:

In Q1 2011, The NGAL Test™ generated sales totaling DKK 109,000, and the company does not expect significant sales until later in the year

·In addition to establishing a network of national distributors, BioPorto is making an effort to establish partnerships with multinational diagnostics companies which market their own analyzers. Initial trials involving The NGAL Test™ have already been successfully completed on several of these diagnostics companies’ analyzers, and the next step in this partnership structuring process involves negotiations.

BioPorto expects it’s financing to be secured by increasing sales revenues, primarily from The NGAL Test™.

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Q2 2011:

Sales of The NGAL Test™ generated DKK 355,000 in the first half-year. Sales for routine diagnostics utilization are expected to commence late this year.

Distribution collaborations with several global diagnostics companies, which market their own analyzers, are currently being negotiated, and the validations of The NGAL Test™ for these companies’ specific analyzers are in progress.

which is why BioPorto does not anticipate major sales until Q4 2011

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Q3 2011:

Distribution collaborations with a number of the global diagnostics companies marketing their own analyzers are the object of continued negotiation. It is anticipated that the first agreement will be entered into in first half year of 2012.

(hov hvad nu? Jeg troede driften blev finansieret igennem fremtigt salg?)• In Q3, BioPorto increased the share capital by the nominal amount of DKK 8.1 million, as a result of carrying out a cash issue, private placement. The new stocks were subscribed at a price of DKK 5.00. The total net proceeds from the placement amount to DKK 12.75 million.

Sales for diagnostic use are expected to begin in the months ahead with continued strong revenue growth from one quarter to the next

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Q4 2011:

Forecast for 2012

In 2012, BioPorto expects product sales to grow to revenues around DKK 25–30 million, and sales of The NGAL Test™ are expected to exceed DKK 10 million.

by establishing a distribution agreement with one or more global diagnostics companies;

addition to establishing a network of national distributors, BioPorto is making a concerted effort to establish partnerships with regional and global diagnostics companies which market their own analyzers. Negotiations involve several regional and global companies, and the first collaboration is expected to be established in Q2.

In 2012, BioPorto expects revenues from product sales to grow to DKK 25–30 million, and sales of The NGAL Test™ are expected to exceed DKK 10 million.

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Q2 2012:

Test sales generated DKK 1 million in the first half of 2012, and are expected to sharply increase in the last half of 2012 concurrent with the implementation of the test and the establishment of collaboration with several diagnostics companies.

(hov, hvad nu, flere penge ind igen nu?) On today’s date, the Board of Directors decided to carry out a cash issuance, private placement, by issuing 1.5 million shares at a price of DKK 7.50. At the time of the decision, binding acceptance of subscription for the full amount of the increase has been received.

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Q3 2012:

In September, Roche Diagnostics distributed information to all of Roche’s local divisions and sales partners describing The NGAL Test™, directly referring to the technical validation on a number of Roche’s analyzers and providing contact information for BioPorto’s sales team for the purpose of buying the immunoassay. By the end of this year, BioPorto expects to establish additional collaboration agreements concerning the marketing of The NGAL Test™ with regional and global suppliers of analyzers.

On November 5, BioPorto was forced to announce that neither of the two subscribers had paid the subscription amount due under the planned share issue.Alternative financing options are being examined as a consequence of the cancellation.The company has received positive responses from several existing investors and expects to be able to present a financing solution in the near future which will guarantee the company’s continued operations and liabilities.